Term Deposit
A great way to reach your savings goals, with no fees and a competitive interest rate locked in for terms from 31 days to 60 months.
- Fixed rate
- 5.45%
- 12 months
Deposit Rates
| Type | Rate | Applies To | Interest Paid |
|---|---|---|---|
| Fixed 12 month fixed term deposit with interest paid monthly · Minimum deposit for new customer is $10K.Minimum deposit for existing customer is $5K. | 5.3% | AmountTerm | monthly |
| Fixed 31 day fixed term deposit with interest paid at maturity · Minimum deposit for new customer is $10K.Minimum deposit for existing customer is $5K. | 2.1% | AmountTerm | every 31 days |
| Fixed 6 month fixed term deposit with interest paid at maturity · Minimum deposit for new customer is $10K.Minimum deposit for existing customer is $5K. | 5.35% | AmountTerm | every 6 months |
| Fixed 24 month fixed term deposit with interest paid annually · Minimum deposit for new customer is $10K.Minimum deposit for existing customer is $5K. | 5.15% | AmountTerm | yearly |
| Fixed 3 month fixed term deposit with interest paid at maturity · Minimum deposit for new customer is $10K.Minimum deposit for existing customer is $5K. |
Fees
| Fee | Type | Amount |
|---|---|---|
| Voucher/information retrieval. Fee charged for voucher/information retrieval by us. | Event | Variable |
| Audit certificate | Event | $35.00 |
| Early Redemption administration fee An Administration fee of $30 is applied at the time of the time of early withdrawal. | Exit | $30.00 |
| Early redemption interest penalty fee If you redeem your Term Deposit early, the amount of interest paid will be the interest accrued based on the interest rate on the day we opened your account less a reduction in interest earned based on the percentage of the term elapsed at the early termination date as outlined in the General Terms which are available on the web site. | Event | Variable |
Features
- Interest can be reinvested back into the Term Deposit, paid to your account with us, or paid to another financial institution account.
- Manage the Term Deposit maturity instructions from within Internet Banking or our app. Tell us how the principal and interest amounts are to be paid when your Term Deposit matures.
- Digital banking
Eligibility
- To open an account, you must have a valid email address and an Australian mobile number.
- Individuals onlyTo open a Term Deposit, you must be a natural person.
- Minimum age — 14 yearsTo open an account, you must be 14 years or older.
- Residency status — To open an account, you must be solely a tax resident of Australia.
Constraints
- Minimum balance — $5,000.00Minimum deposit amount of $10,000 applies to new customers, otherwise the minimum is $5,000.
More Information
Published by Heartland under the Consumer Data Right · Last updated 15 July 2026 · Product ID TD01.1 · View on CDR.gov.au